| PRISMA Microcredit Program |
PRISMA created its microcredit program to help improve family livelihoods through licit economic activities. These loans are not for consumption or for paying debts. These loans will help you finance the activities you carry out; they will help produce income. With this income, you can improve your family’s food security, educate your children and expand your business.
For this type of loan, 10 to 15 people must organize in an ACPD (Pro-community Development Association). Each member of the group is responsible for making sure that all members make their loan payments. These loans are based on the production activities, abilities and skills of the population.
PRISMA’s Microcredit Program has been working with this methodology since 1997 and currently has 19 agencies in 10 departments offering this type of loan. You can visit them at:
Caraz Agency: Jr. La Mar 152. Caraz.
Huaraz Agency: Jr. 28 de Julio 886. Dist. Restauración. Huaraz
Pampas Agency: Av. Centenario s/n 2da. Cuadra. Pampas, Tayacaja – Huancavelica.
Huancayo Agency: Jr. Rosemberg 540 – El Tambo, Huancayo – Junín.
Jauja Agency: Jr. Grau Nro. 280 – 284. Cercado, Jauja – Junín.
La Merced Agency: Calle Los Cedros s/n. La Merced, Chanchamayo – Junín.
Tarma Agency: Jr. Arequipa 939 – Tarma, Junín.
Lima Sur Agency: Jr. Estaban Tuerten 1013. San Juan de Miraflores – Lima.
Lima Norte Agency: Calle Progreso 134. Cercado. Puente Piedra.
Piura Agency: Av. Panamericana Nro. 197 Mz C Lote 1. Urb. Santa Isabel. Piura.
Juliaca Agency: Jr. Cabana 218 – Juliaca – Puno
Ayaviri Agency: 25 de Diciembre 302 – Ayaviri – Puno
Pucallpa Agency: Jr. Inmaculada 198 – Pucallpa.
Tocache Agency: Jr. Progreso 3304 – Tocache – San Martín.
Aucayacu Agency: Av. Las Américas 588 – Huánuco
Bellavista Agency: Jr. Huallaga 370 – Distrito Bellavista – San Martín.
Tarapoto Agency: Jr. Progreso 617 – Pueblo Joven 9 de abril – San Martín.
Aguaytía Agency: Jr. Sargento Lores Mz. 2Ñ Lote 5 – Ucayali.
Valle Río Agency: Av. 28 de Julio 035 – San Francisco, Ayacucho.
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| What do you need to do to obtain a loan? |
First you should organize in groups:
- Organize in groups of 10 to 15 members, which are called ACPDs (Pro-community Development Associations). The groups are formed voluntarily based on friendship, similar work activities, living in the same neighborhood, people known to be responsible, etc.
- PRISMA’s credit officers will help you form appropriate groups so that you’ll know that every member is committed to the others. If all members of the ACPD are responsible and trustworthy, you can get more loans in the future.
- The guarantee is collective solidarity, that is, if one member of your ACPD does not pay his or her loan, the other members have to respond for that payment. If the members of the group see that one of the members does not make his or her payments, they should pressure that member to make the loan payment so that the group is not affected. After the loan is paid off, the group can decide whether to remove the person who failed to make loan payments.
The ACPD is a type of community bank that offers you savings and loan services. If you save more you can increase your capital and obtain a bigger loan when you need it.
All ACPD members must elect their executive board. The executive board manages the ACPD.
PRISMA’s credit officer “advises” the ACPD and develops a training plan so that all ACPD members can improve their work. All ACPD decisions are made during a general assembly of members.
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| What are the loan amounts? |
Initially, loans are for small amounts and then increase in each cycle (cycles range from four to nine months) to enable the gradual growth of the business of the groups. Loans are granted as follows:
- Loans for ACPDs that carry out rural activities, such as farming and raising livestock, begin at S/. 450 per person and gradually increase by S/.225 in each cycle.
- Loans for ACPDs that carry out urban activities, such as selling, etc. begin at S/.300 soles per person and continue to increase by S/.150 in each cycle.
- In San Francisco, Tocache, Aucayacu, Bellavista, Valle del Río Apurímac and Aguaytía, where the Alternative Development Project is implemented, loan conditions (amounts and interest) are different. If you are interested in obtaining a loan and you live in one of those areas, go to the PRISMA nearest you to obtain more information on credit conditions.
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| What interest rate is charged? |
- For the ACPDs that carry out rural activities, such as farming and raising livestock, the monthly interest rate is 4% in soles. With this type of loan, you pay the interest monthly and the capital interest at the end of the cycle.
- For the ACPDs that carry out urban activities, such as selling, etc., the monthly interest rate is 3.53% in soles. With this type of loan, you pay capital and monthly interest until the end of the cycle.
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| How to contact PRISMA’S Microcredit Program |
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If you would like more information on PRISMA credit products, visit the agency nearest you. The addresses of the agencies are listed above.
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